By Chris Megerian and Anthony York
January 4, 2014, 10:24 a.m.

SACRAMENTO — Gov. Jerry Brown will join the push for a new ballot measure to help California stockpile cash as a buffer against future recessions, according to two Capitol officials.

The proposed measure, which would need approval from two-thirds of the Legislature before it could be presented to voters in November, would siphon off some tax revenue and channel it into a special savings account.

If successful, the account could mitigate the need for deep spending cuts during economic downturns and help California shed its reputation as a financial roller coaster.

The plan, put forward by Assembly Speaker John A. Pérez (D-Los Angeles) last May, will be included in Brown’s upcoming budget proposal, the officials said. They declined to speak publicly before the governor’s announcement, scheduled for Friday.

H.D. Palmer, spokesman for Brown’s Department of Finance, declined to say whether support for a ballot measure would be part of Brown’s budget blueprint.

But Brown said in a November speech at the Milken Institute, a think tank in Santa Monica, that he wanted to start saving.

Although “there will be a great effort to spend [surpluses] as quickly as possible,” the governor said, it’s important to be careful. California’s budget depends heavily on taxing the rich, and revenue can be unreliable.

“The only way to avoid that,” he said, is to put some capital gains revenue “in a rainy day fund,” Brown said.

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